Why Tullow, Total are shipping out of Kenya’s oil project dreamWorkers walk past storage tanks at Tullow Oil's Ngamia 8 drilling site in Lokichar, Turkana County. According to a Thursday Reuters report, Tullow is eyeing to sell its entire stake in the oil blocks. This would mean Tullow will offload a 25 per cent stake in the blocks while Total, which has a 25 per cent stake, will sell about 12.5 per cent. The pipeline project has since been suspended. The French oil major got to own a 25 per cent stake in the Lokichar blocks after acquiring Maersk Oil globally in 2017, which had acquired the stake from Africa Oil in 2015.

Source: Standard Digital January 25, 2020 21:00 UTC